Toy Seller Basic Fun’s Debt Reorganization Plan Gets Confirmed

US bankruptcy court Judge Craig Goldblatt said he’d approve the reorganization plan of Basic Fun Inc., a toy seller that filed for Chapter 11 protection in June.

• Under the plan, priority claims, along with some other claims, will be recovered fully, while pre-petition mezzanine claims are estimated to recover about 85%, according to court papers
  • At the Monday hearing, Judge Goldblatt also approved a senior exit facility of as much as $50 million that will mature in three years
• The case is Basic Fun Inc., number 24-11432, in the US Bankruptcy Court for the District of Delaware
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